Essay on Capital Purchase Justification - 892 Words

HCA-240 XXX XXX @)!# XXXXXXXXXX XXXX Keeping Current and Saving Lives Medical technology is advancing rapidly with each passing minute. It is becoming more urgent for health care facilities to invest in equipment that is current and state of the art. Behind these advancements are proven statistics that certain equipment is a necessity when diagnosing and treating patients. We, as health care workers, owe it to our patients to have the best possible equipment in our facilities. Aside from non-melanoma skin cancer, breast cancer has become the most common cancer among women in the United States. Breast cancer does not discriminate. It is one of the†¦show more content†¦There is also an unmatched level of speed and versatility when operating the MAGNETOM (Magnetom espree -, 2013). When making a purchase to improve on many areas of operations there are always factors to take into consideration. There will be a great amount of capital expenditure for this equipment; however the potential for higher return on investment is remarkable. The initial cost of purchasing the MAGNETOM is approximately $ 1 million. There will be an additional cost of $500,000 to operate and maintain the machine. These costs will be reimbursed within the first eight months of extensive utilization if the all marketing for the machine is on point. Since we are currently paying a technician to operate our out of date machinery, there is no reason why this prediction cannot become reality. There will also be an offset of income inherited by the lack of errors made by the technicians after they have trained for the new machine . (Magnetom espree -, 2013) Some other factors of operation to look at are scan times. There will be a significant amount of time saved when using this new piece of technology. As we know, time is money in any business and the amount of time saved will be viable in contributing to more income in other departments. Another point to look at is the enhanced imaging quality. So many times we are losing time and money on poor image results with our current machine. The quality of enhancedShow MoreRelatedThe Capital Justification Expenditure Is Vital For The Return On Investment Of A Per Provider For Electronic Medical Records1224 Words   |  5 PagesIndicating the capital justification expenditures is vital for the return on investment of a Per Provider for Electronic Medical Record Implementation. Several key aspects are necessary to mention of the amount and type of expenditure, attainment of key decision criteria, and detailed financial analysis. Hospitals, clinics, and ambulatory care settings even have to indicate important capital expenditures. 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